Monday, July 27, 2009

MahaNakhon architectural landmark of Bangkok

architectural landmarkBangkok is back on the world map. MahaNakorn, the newly announced mega development project will be taking in the heart of Bangkok’s financial district. Shortly after Pace announced Saladang Residence project. Today, PACE Development has joined forces with one of Israel’s largest developers, Fishman Group subsidiary IBC, to develop a major new mixed-use project in Bangkok’s central business district at a cost of Bt14 billion.

The tower when completed, will become the city’s most exclusive address, and will house the legendary The Ritz-Carlton Residences, The Bangkok Edition Hotel. And grad A offices spaces and high end lifestyle retail stores. As part of the mixed-use MahaNakhon development.

architectural landmark

architectural landmarkMahaNakhon is 77-story tower. At a planned 1,017 feet, it will be the tallest structure in Bangkok. NahaNakorn is projected to complete in 4 years. There will be a lot happening and we have to wait and see that the project be as promising or just another project that will be put on hold or downsize according to the economic climate.

architectural landmarkFacts and Figures

Developer: Joint Venture: PACE Development Co., Ltd. and Industrial Buildings Corporation Public Company Ltd.

Location: Narathiwas Ratchanakarin Road, between Silom and Sathorn Roads, Bangkok, Thailand

Type of development: Mixed-use including Residences Hotel and Retail

Residences brand: Ritz-Carlton Residences, Bangkok

Hotel brand: Bangkok Edition Hotel by Ian Schrager (operated by Marriott International)

Lifestyle retail center: Ultra luxury lifestyle retail center (area: approx. 10,000 sq.m.)

Project area: Approx. 9 rai (14,950 sq. m.)

Total project GFA: Approx. 150,000 sq.m. (16 Mil sq.f.)

Residential saleable area: Approx. 60% of total project GFA (with 20% for hotel and 20% for retail center)

Total project value: 18 billion THB (US$ 515 million)

Total project investment: 14 billion THB (US$ 400 million)

Total target equity investment: 5 billion THB (US$ 143 million)(current equity already invested at 2.15 billion Thb)

Residential average price: 250,000 THB per sq.m. (US$ 7,100 per sq.m.)

No. of residential unit: Approx. 200 units

Unit types:> 2 – 5 bedrooms

Residential presale period: June 2009

Construction commencement: Q3 2009

Residential show unit opening: Q4 2009

Retail center completion: December 2011

Hotel completion: December 2012

Residence completion: December 2013

Official MahaNakhon Website


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